2025-2027 Curtis · Oakland, CA 94607

$549,000

3 bd · 2.0 ba · 1,834 sqft · MultiFamily public records · 16 Days on market

Built 1893 2,750 sqft lot $299/sqft · 24% below area Est $744k · 26% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +3.9/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

A wonderful opportunity to own a piece of West Oakland history, this charming duplex—originally built in 1893—offers the perfect blend of character, flexibility, and modern updates. With a brand-new foundation already in place, the property offers a strong foundation—both structurally and as an investment—providing flexibility for rental income, owner-occupancy, or multi-generational living. The upper unit (2025) with 2 bedrooms, & 1 bathroom has been beautifully refreshed, featuring a custom kitchen with gas stove and dishwasher, refinished Douglas Fir floors in the main living spaces, and brand new LVP flooring in the bedrooms. A thoughtfully designed layout includes two bedrooms, one bathroom with a tub/shower combo, stackable washer/dryer hookups, and direct access to the expansive shared backyard—creating a seamless indoor-outdoor flow. The lower unit (2027) with 2 bedrooms, & 1 bathroom offers a spacious, open-concept kitchen and living area ideal for everyday living and entertaining. The front bedroom is filled with natural light from tall windows, while the second bedroom provides flexibility for guests, office, or additional living space. A full bathroom with tub/shower combo, dedicated laundry room with full-size washer/dryer, and direct backyard access complete the home. Set behind a fully gated front patio, the property feels both private and welcoming. Out back, approximately 750 square feet of west-facing yard space invites you to create your own outdoor retreat—whether that’s a garden, lounge area, or gathering space to enjoy Oakland’s signature sunny afternoons and golden evening light. Located in vibrant West Oakland—just moments from local favorites, transportation, and commuter routes—this duplex presents an exceptional opportunity for an owner-occupant, investor, or multi-generational living.

Key facts

• Custom kitchen
• Open-concept kitchen
• Brand new foundation

Tags

• BRAND NEW FOUNDATION
• CUSTOM KITCHEN
• REFINISHED DOUGLAS FIR FLOORS
• NEW LVP FLOORING
• EXPANSIVE SHARED BACKYARD
• OPEN-CONCEPT KITCHEN

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $549k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive. Per door: $191/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $488k (11.1% below list).
• Recommended offer: $488k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 2.4% in Oakland — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#224 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: schools C-, crime F, cost of living F.
• Oakland Unified (urban): math 27% / reading 33% proficiency, ranked #1,007 of 1,400 in CA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.2%/yr); 133 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $4,881/mo this rent would consume 62% of the median local household income ($95k/yr) (locally 2002% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($541k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $116k; list at $549k implies a 373% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $488,100 (11.1% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 7.13%
• Cash-on-cash: 2.98%
• DSCR: 1.13
• GRM: 9.4

CMA / ARV

• ARV (median comp): $743,720
• List price: $549,000
• Delta: -26.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2025-2027 Curtis	0.00mi	4/2.0 (+1)	1,893 (+3%)	1mo	$650,000	$343	89
2416 - 2414 Linden St	0.34mi	4/2.0 (+1)	1,648 (-10%)	2mo	$655,000	$397	61
865 27th St	0.36mi	4/2.0 (+1)	1,920 (+5%)	13mo	$719,000	$374	60
601 32nd St	0.75mi	4/2.0 (+1)	1,784 (-3%)	9mo	$585,000	$328	48
842 30th St	0.57mi	4/2.0 (+1)	1,681 (-8%)	13mo	$603,000	$359	43
1114 10th St	0.61mi	4/2.0 (+1)	2,001 (+9%)	11mo	$499,000	$249	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.59×
• Total profit: $-63,604
• Equity at exit: $81,858

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-19,724
• Equity at exit: $47,467

Cash invested: $153,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Oakland: 0 Strongly Tenant-Friendly · D+62

Rent Adjustment Program + Just Cause.

Methodology + full state rankings →

ZIP-level market 94607

• Rents YoY: 3.2%
• Active inventory: 133
• Price-to-rent: 18.7×

Monthly cashflow live

• Estimated rent: $4,881 high
• Mortgage (P&I): −$2,879
• Tax from tax record: −$367 /mo · $4,401/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,025
• Net cashflow: $382

Break-even live

Break-even rent $4,398

Max offer price $549,000

Occupancy floor 87%

Sensitivity live

Price	-10% $692	-5% $537	+0% $382	+5% $226	+10% $71
Rent	-10% $-4	-5% $189	+0% $382	+5% $574	+10% $767
Rate	-1.0pp $658	-0.5pp $521	base $382	+0.5pp $239	+1.0pp $95

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,880
Total (2 units)			$4,881

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2006 Market St Oakland, CA	2.0	2.5	1250	$2,995	$2.40	13d	1	0.07mi
154 Uptown Cir Oakland, CA	2.0	2.5	1252	$3,400	$2.72	44d	1	0.21mi
668 21st St Oakland, CA	2.0–3.0	1.0–2.0	1112	$2,233	$2.01	44d	1	0.34mi
500 William St Oakland, CA	3.0	1.0–2.0	1108	$4,654	$4.20	3d	16	0.45mi
2712 Adeline St Unit B Oakland, CA	4.0	3.0	1500	$3,800	$2.53	15d	1	0.48mi
2016 Telegraph Ave Oakland, CA	3.0	1.0–3.0	1026	$6,748	$6.58	0d	9	0.53mi
1214 Adeline St Oakland, CA	3.0	2.0	1300	$3,160	$2.43	44d	1	0.55mi
814 30th St Emeryville, CA	4.0	2.0	2015	$7,000	$3.47	3d	1	0.55mi
1389 Jefferson St Oakland, CA	2.0	1.0–2.0	911	$3,481	$3.82	0d	14	0.56mi
1202 Adeline St Oakland, CA	4.0	3.0	1800	$3,795	$2.11	20d	1	0.57mi
471 26th St Oakland, CA	1.0–3.0	1.0–3.0	967	$3,870	$4.00	0d	9	0.57mi
1255 26th St #106 Oakland, CA	2.0	2.0	1750	$2,795	$1.60	5d	1	0.58mi
896 31st St Oakland, CA	3.0	2.0	1400	$2,250	$1.61	44d	1	0.60mi
1950 Broadway Oakland, CA	4.0	1.0–2.0	737	$5,631	$7.64	0d	54	0.61mi
3010 Martin Luther King Junior Way Oakland, CA	3.0	1.0	1700	$2,990	$1.76	44d	1	0.63mi
1123 30th St Emeryville, CA	3.0	2.0	2083	$4,895	$2.35	44d	1	0.63mi
1123 30th St Unit 1 Oakland, CA	3.0	2.5	2083	$4,895	$2.35	44d	1	0.63mi
1015 Martin Luther King Junior Way Oakland, CA	4.0	2.0	1800	$1,300	$0.72	44d	1	0.63mi
1015 Martin Luther King Junior Way Unit B2 Oakland, CA	4.0	2.0	1800	$1,000	$0.56	44d	1	0.63mi
447 17th St Oakland, CA	1.0–2.0	1.0–2.0	957	$5,186	$5.42	0d	13	0.65mi
1216 10th St Oakland, CA	3.0	2.0	1750	$3,399	$1.94	44d	1	0.71mi
2933 McClure St Oakland, CA	3.0	2.0	1440	$4,850	$3.37	3d	1	0.74mi
1717 Webster St Oakland, CA	1.0–2.0	1.0–2.0	1062	$5,631	$5.30	0d	2	0.75mi
325 27th St Oakland, CA	2.0	1.0–2.0	879	$4,561	$5.19	0d	23	0.79mi
889 34th St Unit 889 Oakland, CA	4.0	2.0	1300	$3,095	$2.38	44d	1	0.81mi
835 35th St Unit 1 Oakland, CA	3.0	2.0	1400	$2,950	$2.11	44d	1	0.85mi
3240 Peralta St #10 Emeryville, CA	2.0	2.0	1766	$3,950	$2.24	24d	1	0.86mi
801 Franklin St Unit 1228 Oakland, CA	2.0	1.5	1310	$2,500	$1.91	44d	1	0.92mi
1100 Webster St Oakland, CA	3.0	1.0–2.0	958	$5,003	$5.22	0d	9	0.93mi
3415 Haven St Emeryville, CA	3.0	2.5	1900	$4,200	$2.21	11d	1	0.97mi
238 13th St Oakland, CA	3.0	1.0–2.0	1039	$4,387	$4.22	0d	10	1.01mi
3093 Broadway Oakland, CA	3.0	1.0–2.0	972	$4,210	$4.33	0d	29	1.03mi
1733 14th St Unit 1733 Oakland, CA	3.0	2.0	1650	$3,015	$1.83	3d	1	1.06mi
1417 Prescott St Oakland, CA	2.0	3.0	1240	$3,600	$2.90	44d	1	1.11mi
3900 Adeline St Oakland, CA	3.0	1.0–2.0	809	$3,530	$4.36	0d	7	1.15mi
3123 Harrison St Oakland, CA	3.0	2.0	1450	$3,800	$2.62	5d	1	1.21mi
1401 Park Ave Emeryville, CA	3.0	1.0–2.5	1191	$5,493	$4.61	10d	1	1.31mi
240 3rd St Oakland, CA	1.0–2.0	1.0–2.0	932	$3,512	$3.77	0d	7	1.32mi
4510 Hubbard St Emeryville, CA	2.0–3.0	2.0	1282	$5,219	$4.07	0d	11	1.34mi
180 3rd St Oakland, CA	1.0–2.0	1.0–2.0	1043	$4,447	$4.26	0d	23	1.39mi

Listing history 11 events

1. 2026-05-09
   status Pending 1917-char remark

   Show marketing remark (1917 chars)

   A wonderful opportunity to own a piece of West Oakland history, this charming duplex—originally built in 1893—offers the perfect blend of character, flexibility, and modern updates. With a brand-new foundation already in place, the property offers a strong foundation—both structurally and as an investment—providing flexibility for rental income, owner-occupancy, or multi-generational living. The upper unit (2025) with 2 bedrooms, & 1 bathroom has been beautifully refreshed, featuring a custom kitchen with gas stove and dishwasher, refinished Douglas Fir floors in the main living spaces, and brand new LVP flooring in the bedrooms. A thoughtfully designed layout includes two bedrooms, one bathroom with a tub/shower combo, stackable washer/dryer hookups, and direct access to the expansive shared backyard—creating a seamless indoor-outdoor flow. The lower unit (2027) with 2 bedrooms, & 1 bathroom offers a spacious, open-concept kitchen and living area ideal for everyday living and entertaining. The front bedroom is filled with natural light from tall windows, while the second bedroom provides flexibility for guests, office, or additional living space. A full bathroom with tub/shower combo, dedicated laundry room with full-size washer/dryer, and direct backyard access complete the home. Set behind a fully gated front patio, the property feels both private and welcoming. Out back, approximately 750 square feet of west-facing yard space invites you to create your own outdoor retreat—whether that’s a garden, lounge area, or gathering space to enjoy Oakland’s signature sunny afternoons and golden evening light. Located in vibrant West Oakland—just moments from local favorites, transportation, and commuter routes—this duplex presents an exceptional opportunity for an owner-occupant, investor, or multi-generational living.

2. 2026-04-22
   listed $549,000 Active 1917-char remark

   Show marketing remark (1917 chars)

   A wonderful opportunity to own a piece of West Oakland history, this charming duplex—originally built in 1893—offers the perfect blend of character, flexibility, and modern updates. With a brand-new foundation already in place, the property offers a strong foundation—both structurally and as an investment—providing flexibility for rental income, owner-occupancy, or multi-generational living. The upper unit (2025) with 2 bedrooms, & 1 bathroom has been beautifully refreshed, featuring a custom kitchen with gas stove and dishwasher, refinished Douglas Fir floors in the main living spaces, and brand new LVP flooring in the bedrooms. A thoughtfully designed layout includes two bedrooms, one bathroom with a tub/shower combo, stackable washer/dryer hookups, and direct access to the expansive shared backyard—creating a seamless indoor-outdoor flow. The lower unit (2027) with 2 bedrooms, & 1 bathroom offers a spacious, open-concept kitchen and living area ideal for everyday living and entertaining. The front bedroom is filled with natural light from tall windows, while the second bedroom provides flexibility for guests, office, or additional living space. A full bathroom with tub/shower combo, dedicated laundry room with full-size washer/dryer, and direct backyard access complete the home. Set behind a fully gated front patio, the property feels both private and welcoming. Out back, approximately 750 square feet of west-facing yard space invites you to create your own outdoor retreat—whether that’s a garden, lounge area, or gathering space to enjoy Oakland’s signature sunny afternoons and golden evening light. Located in vibrant West Oakland—just moments from local favorites, transportation, and commuter routes—this duplex presents an exceptional opportunity for an owner-occupant, investor, or multi-generational living.

3. 2010-10-11
   historical
4. 2010-02-25
   historical
5. 2009-06-06
   soldstatus $116,000 Sold
6. 2009-04-25
   historical
7. 2009-04-17
   listed $99,900
8. 2005-02-14
   soldstatus $500,000
9. 2005-01-28
   soldstatus $500,000
10. 2004-12-19
    historical
11. 2004-11-30
    listed $499,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $4,401 · $367/mo
• Projected year-2 tax: $4,401 · $367/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥82°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,572
• − Mortgage interest: −$30,753
• − Property taxes: −$4,401
• − Insurance: −$2,745
• − Repairs & maintenance: −$4,686
• − Management: −$4,686
• − Depreciation: −$15,971
• Taxable loss: −$4,669
• Est. tax savings @ 24.0%: +$1,120
• After-tax cash flow: $5,699/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Oakland Unified
• NCES district ID: 0628050
• Math proficiency: 27% ▬ 0.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $55,194
• Composite: 29.52/100
• National rank: #11769
• State rank: #1007 of 1400 in CA

Livability — Oakland

• Score: 71/100
• State rank: #224
• US rank: #7245

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing B Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland, CA
• County: Alameda County · 1,614,355 people
• City population: 385,993
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 28,804
• Household income: $94,863
• Rent vs Own: 69.9% rent · 30.1% own
• Severe rent burden: 2002.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.78)
• Race & ethnicity: Black 29% White 25% Asian 25% Hispanic / Latino 13% Two or more races 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 1% Romanian 1% Portuguese 1%
• Foreign-born: 28% · China, Canada, Vietnam
• Languages at home: 65% English-only · Chinese 16% Spanish 8% Arabic 2%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -170.49%
• Current HPI: 263.5885
• Rent YoY: ▲ 3.24%
• Metro: San Francisco-Oakland-Berkeley, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+10.0% since first listed

11 events — show timeline

• 2026-05-09 Pending — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-04-22 Listed $549,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-10-11 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2010-02-25 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2009-06-06 Sold (MLS) $116,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2009-04-25 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2009-04-17 Listed $99,900 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2005-02-14 Sold (MLS) $500,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2005-01-28 Sold (Public Records) $500,000 Public Records
• 2004-12-19 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-11-30 Listed $499,000 bridgeMLS, Bay East AOR, or Contra Costa AOR

Property tax history

-3.5%/yr

Latest (2025): $4,401 · +4.8% YoY. Source: county tax records.